US stock market jumped as Macro optimism overshadows spike in COVID, EURUSD bearish movement

US stock market jumped as Macro optimism overshadows spike in COVID, EURUSD bearish movement?

Queenie Wu                               6 July 2020 (23:00 HK)

EURUSD交易區：考慮支持和阻力：1.13488 – 1.12073 

策略：在關鍵支持和阻力之間波段交易。在較高的timeframe（D1）中看趨勢方向，並使用較低的timeframe（H4）入市。

7 / 6 / 2020 (Mon ) “US futures for the Dow Jones, S&P 500, NASDAQ and Russell 2000 all jumped on Monday to start the trading week.  The market continued to focus on signals of a robust economic recovery rather than signs of the growing number of COVID-19 cases, which are nearing 11.5 million worldwide with more than half a million deaths.”

“In the EURUSD H4 chart, the pair is once again testing the descending channel’s upside border.  The price may rebound from the resistance level towards 1.1195…”

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看跌走勢:

H4圖表：

TMA通道的頂部回落 (1.13463)，強阻力位。

Supply zone在圖表中以紅色顯示。

第1枝4H, 第3枝1H圖陰燭已形成。

穿過通道頂再次進入TMA 及ENV通道!

隨機震盪指標Stochastic Oscillator達80以上。

Schaff Indicator已經觸及最高水平預備向下。Bearish reversal很可能發生。

(Technical indicators turned bearish.)

(The next support on the downside is 1.12713. If this level breaks, a further correction will be on the road.)

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預期方向：DOWN

入市點：賣出1.13182；

TP1: 1.12713  TP2: 1.12591 

SL: 1.13460

Be careful: Notice there may be a change in direction from Asian to London to US session.  If this happens, we have to TP immediately.  Another issue to notice, the movement of EURUSD is correlated to the movement of US stock market.  We have to pay high attention to the direction of US stock market.

 
H4: Bearish reversal at the ceiling of TMA channel (6 July 2020 22:00)





 
 H1: Bearish reversal at the ceiling of TMA channel (6 July 2020 22:00)


 Result: Moving toward TP1.  H4 bearish candles formed already (7 July 2020 15:00 HK)